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Nasdaq celebrates Indian I-Day

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New York: The Nasdaq stock exchange has celebrated India’s 71th Independence Day with Sandeep Chakravorty, India’s New York Consul General, ringing the opening bell.

Chakravorty on Wednesday said that the financial sector was the most important determinant of “the incredible” India-US economic partnership and “in this the role of Nasdaq is critical”.

Five companies with a strong presence in India that have a combined market capitalisation of over $40 billion are listed on the exchange, Nasdaq Vice President Joe Brantuk said at the ceremony.

The is the eighth year that Nasdaq, home to several high-tech powerhouses like Microsoft, Facebook and Google parent Alphabet, celebrated August 15.

The Nasdaq index finished the day up 12.10 points or 0.19 per cent.

“We consider the US an important partner in our flagship programmes such as ‘Make in India’, ‘Digital India’ and ‘Startup India’ for bringing about inclusive social and economic changes…,” he added.

“India’s progress will not only ensure the well-being of a sixth of humanity, it will also provide an engine of global prosperity and also anchor stability,” Chakravorty said.

Brantuk said that Nasdaq is a primary contractor providing the technology for India’s Energy Exchange, the country’s first institution for trading electricity.

One of the India-related companies listed on the exchange, Cognizant, “is a member of the Nasdaq 100 Index, one of the most prestigious and widely followed indices in the world”, he said.

The other Indian companies listed on Nasdaq include MakeMyTrip, Videocon and Sify.

IANS

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